Read the full judgment text of HCA 161/2023 on BabelCite. This High Court CFI judgment was delivered on 18 September 2025.
1. TrueCoin LLC (“TrueCoin”) was the owner and creator of a platform through which it marketed a cryptocurrency (“TUSD”). Subscribers pay fiat currency in return for a newly minted TUSD digital token and are entitled to trade, use and redeem the token. The money collected from subscribers of tokens formed the reserves (“the Reserves”) which were marketed to be kept with and safeguarded by independent licensed financial institution in escrow in US dollar cash or equivalent assets in value at leas
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